Spain: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Spain

The Spanish synthetic filament tow market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Synthetic filament tow consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Synthetic Filament Tow Production in Spain

In value terms, synthetic filament tow production reached $X in 2021 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -24.2% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 86%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports from Spain

In 2021, shipments abroad of synthetic filament tow and staple fibers, not carded or combed was finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2017 when exports increased by 244%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, synthetic filament tow exports surged to $X in 2021. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 830% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons), Portugal (X tons) and Italy (X tons) were the main destinations of synthetic filament tow exports from Spain, together accounting for 64% of total exports.

From 2012 to 2021, the biggest increases were in Belgium (with a CAGR of +52.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for synthetic filament tow exports from Spain, comprising 75% of total exports. The second position in the ranking was taken by Italy ($X), with a 4% share of total exports. It was followed by Portugal, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium amounted to +95.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+13.5% per year) and Portugal (+7.8% per year).

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, stabilizing at the previous year. In general, the export price showed resilient growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 170%. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into Spain

In 2021, approx. X tons of synthetic filament tow and staple fibers, not carded or combed were imported into Spain; growing by 14% compared with 2020. The total import volume increased at an average annual rate of +6.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 38%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, synthetic filament tow imports surged to $X in 2021. The total import value increased at an average annual rate of +6.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 60%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), South Korea (X tons) and India (X tons) were the main suppliers of synthetic filament tow imports to Spain, together accounting for 44% of total imports. Germany, Thailand, China, Portugal, Indonesia, Italy, Denmark, France, Ireland and Belgium lagged somewhat behind, together comprising a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +23.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and South Korea ($X) were the largest synthetic filament tow suppliers to Spain, with a combined 43% share of total imports. These countries were followed by Thailand, India, Portugal, China, France, Denmark, Italy, Belgium, Indonesia and Ireland, which together accounted for a further 43%.

In terms of the main suppliers, Portugal, with a CAGR of +19.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic filament tow import price amounted to $X per ton, rising by 19% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 22% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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